secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001679788-23-000112
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coinbase Q3 net loss narrows to $2M; revenue down 5% Q/Q; repurchases $263M debt
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- Q3 net loss of $2M (vs Q2 loss $97M); Adjusted EBITDA $181M, third consecutive positive quarter.
- Total revenue $674M (-5% Q/Q); net revenue $623M; transaction revenue $289M (-12% Q/Q) due to low volatility.
- Subscription & services revenue $334M, largely flat; stablecoin revenue $172M (+14% Q/Q) from USDC arrangement.
- Repurchased $263M of 2031 Senior Notes at ~33% discount, using $177M cash.
- Q4 outlook: Oct transaction revenue ~$105M; expects meaningful positive FY2023 Adjusted EBITDA (revised from prior goal).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000112/0001679788-23-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000112/coin-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001679788-23-000112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer